DA Davidson Raises Paysign (NASDAQ:PAYS) Price Target to $6.00

Paysign (NASDAQ:PAYS) had its price objective increased by DA Davidson from $5.00 to $6.00 in a research report report published on Wednesday,Benzinga reports. DA Davidson currently has a buy rating on the stock.

PAYS has been the topic of a number of other reports. Barrington Research reissued an “outperform” rating and set a $7.00 price objective on shares of Paysign in a report on Wednesday, March 26th. Lake Street Capital raised their price target on Paysign from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, LADENBURG THALM/SH SH upped their price objective on shares of Paysign from $7.25 to $8.25 and gave the company a “buy” rating in a research note on Friday, May 9th.

Paysign Price Performance

PAYS stock opened at $3.33 on Wednesday. The firm has a 50 day simple moving average of $2.31 and a two-hundred day simple moving average of $2.82. The stock has a market cap of $178.98 million, a PE ratio of 22.20 and a beta of 0.23. Paysign has a one year low of $1.80 and a one year high of $5.59.

Paysign (NASDAQ:PAYS) last released its earnings results on Thursday, May 8th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Paysign had a return on equity of 30.64% and a net margin of 14.28%. The business had revenue of $18.60 million for the quarter, compared to analysts’ expectations of $17.49 million. On average, research analysts expect that Paysign will post 0.21 EPS for the current fiscal year.

Insider Activity at Paysign

In related news, CEO Mark Newcomer sold 100,000 shares of Paysign stock in a transaction on Monday, February 24th. The shares were sold at an average price of $2.73, for a total value of $273,000.00. Following the sale, the chief executive officer now owns 8,936,886 shares in the company, valued at $24,397,698.78. The trade was a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 22.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paysign

Several institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC increased its position in shares of Paysign by 327.4% during the third quarter. Barclays PLC now owns 47,090 shares of the company’s stock valued at $173,000 after buying an additional 36,071 shares during the period. JPMorgan Chase & Co. raised its position in shares of Paysign by 164.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,247 shares of the company’s stock worth $232,000 after acquiring an additional 39,299 shares in the last quarter. SG Americas Securities LLC grew its stake in Paysign by 33.5% in the fourth quarter. SG Americas Securities LLC now owns 15,508 shares of the company’s stock worth $47,000 after purchasing an additional 3,895 shares during the period. Rhumbline Advisers lifted its position in Paysign by 13.7% during the fourth quarter. Rhumbline Advisers now owns 44,284 shares of the company’s stock valued at $134,000 after buying an additional 5,339 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Paysign by 31.3% in the 4th quarter. Bank of New York Mellon Corp now owns 94,515 shares of the company’s stock worth $285,000 after buying an additional 22,548 shares during the period. 25.89% of the stock is owned by hedge funds and other institutional investors.

About Paysign

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.